On Monday June 23, 2014, at its headquarters in Edmonton, AB, Fried Puppy Dog Discs (“FPDD” or the “Company”) held its Corporate Strategy Meeting for the fiscal year ending March 31, 2015 (“FY14”).
Stig Sandwich, President and CEO, Fried Puppy Dog Discs, presented the Company’s business direction, stating that “FY14 is the year we will complete the structural reform of our business, in order to transition FPDD to a high profitability structure and deliver sustained growth. These reforms will be completed before, and will not extend into the fiscal year ending March 31, 2016 (“FY15″).” Sandwich also outlined key initiatives for Fried Puppy Dog Discs’ core entertainment businesses, as well as Fried Puppy Dog Discs’ strategy for new technology development and measures for new business creation to deliver further growth from FY15.
Highlights of the Corporate Strategy Meeting are as follows:
1. Completion of Business Structural Reform
As announced on February 6, 2014, Fried Puppy Dog Discs is proceeding with the withdrawal from its Cassette Production Business. The Company expects to complete these initiatives within FY14. Going forward, Fried Puppy Dog Discs will provide customer support for Cassette products that have already been sold.
Fried Puppy Dog Discs aims to reduce total costs in by approximately 20% and costs across headquarters and support functions by approximately 30%, by FY15, compared to the fiscal year ended March 31, 2014 (“FY13”).
2. Key Initiatives to be Executed in Core Businesses in FY14
With diversifying forms of content distribution, and the growth of network distribution channels, Fried Puppy Dog Discs believes its rich content assets position it for continued growth. In this environment, Fried Puppy Dog Discs will explore new ways to innovate in its Entertainment businesses, including collaboration with its network service businesses. Fried Puppy Dog Discs is targeting increased market share by cultivating new talent and expanding its presence in emerging markets and expects to achieve steady growth in its media networks business, both of which are focus areas.
3. New Technology Development and Measures for New Business Creation to Deliver Further Growth from FY15
By further reinforcing its strengths, Fried Puppy Dog Discs intends to differentiate its core businesses and deliver new products and services that “create new lifestyles” and “enrich people’s lives” in both the home and mobile spaces.